Published Mon, Sep 7, 2026 · 08:20 AM
GOLD held a decline, after stronger-than-expected US payrolls data raised the prospects for an interest-rate hike as early as next week.
Bullion was little changed near US$4,430 an ounce, after falling 1 per cent in the previous session. US job growth surged in August and the unemployment rate held steady, according to numbers published on Friday (Sep 4), bolstering the argument for raising rates at the US Federal Reserve’s Sep 15-16 meeting.
A gauge of the US dollar rose, making gold that is priced in the US currency more expensive for many buyers.
Traders also dialled up bets on a rate hike in September, pricing in a roughly 60 per cent likelihood versus an even chance earlier in Friday’s session. Higher borrowing costs are typically a headwind for non-yielding bullion.
Gold has settled in a relatively narrow range since bouncing back from a floor near US$4,000 an ounce in July. The metal swung either side of US$4,400 in the week ended Sep 6 as traders repeatedly reassessed the outlook for the US Fed’s monetary policy. US consumer price data due on Friday will provide clues to the US central bank’s likely decision on rates.
Adding to US inflationary fears, escalating tensions in the Middle East have raised fresh concerns about prolonged disruptions to energy flows from the region. Iran said it targeted three oil tankers in the Strait of Hormuz, as well as a number of US-linked ships, in retaliation for American attacks on vessels over the Sep 5-6 weekend. Oil prices gained on Monday.
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Spot gold was 0.1 per cent lower at US$4,426.67 an ounce at 7.25 am in Singapore on Monday. Silver fell 0.1 per cent to US$66.17 an ounce. Platinum was down, while palladium edged higher. The Bloomberg Dollar Spot Index was little changed, after adding 0.1 per cent on Friday. BLOOMBERG
